ABN AMRO is Testing Its Own Crypto Wallet – ‘Willie’

AMB AMRO is a Dutch-based financial giant, and they are exploring the idea of developing its own cryptocurrency wallet. According to the company’s Twitter handle, rumours that the company is testing phase of its crypto wallet has been confirmed. The codename for the wallet is Willie and already has a customer base of 500 people. On being asked about the crypto wallet on Twitter, the bank has been open on talking about its desire to dabble into crypto custody.

ABN AMRO has been extraordinarily upfront and vocal when it comes to its interest in cryptocurrencies on all their social media platforms. It was stated by ABN earlier that the company is interested in cryptocurrency custody since its research shows more and more people are investing in crypto and security is one of their first concerns.

The banks state that it wants to be a trusted partner in customer crypto custody. In response to a tweet directed at ABN speculating ABN’s role in the crypto economy, the bank reverted by saying that ‘ at the moment, we are mainly investigating and scanning what role we can play in the crypto economy. In doing so, we have a lot of consultations with the AFM (Authority for the Financial Markets) and DNB (De Nederlandsche Bank) to establish together what is important for consumers.’

The beta version of Willie which is in testing incorporates support for ABN’s mobile banking app which essentially raises a number of questions concerning ABN’s plans, according to sources. However, this is a piece of unverified news. However, at present, there is just limited information available concerning Willie and ABN’s plans for stepping into cryptocurrency space. The technical specifications of the wallet and its level of development are still ambiguous and unanswered for now. What’s exciting is that we know that now the worlds biggest banks are stepping into the world of cryptocurrencies.

Moeen Khan is a Content Writer and Social Media Writer who actively writes about Blockchain Technology and Cryptocurrencies at Coinpublish.
Moeen has previously worked with two start-up companies in New Delhi that were in the financial sector. He has interned with organizations like NDTV Goodtimes and Magicbricks (TOI Group). This experience has given him a broad knowledge base upon which he is working to build further through learning and practice.

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